After the significant price rise seen in the latest ex-Baltic scrap booking in Turkey, an ex-Europe scrap deal has also been concluded to Turkey at a higher price level.
SteelOrbis has learned that a Marmara region-based Turkish producer concluded an ex-Belgium deal yesterday, June 9, for 20,000 mt of HMS I/II 75:25 scrap, 2,500 mt of shredded scrap and 12,500 mt of a mixture of HMS I and bonus grade scrap at the average price level of $262/mt CFR. Based on this deal, the HMS I/II 80:20 price is estimated to be at around $261/mt CFR. In the previous ex-Europe transaction, this premium grade was bought at $259.50/mt CFR.
Lively activity and higher prices in the local Turkish finished steel market have positively impacted the scrap segment. Additionally, Turkey continues to ease its measures taken against the Covid-19 pandemic, while the government also continues to announce new stimulus packages to support the economy and businesses.
